EUR/GBP

- GBP (-)

- Real time data - Forex

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Type:	Forex
Ticker:	EURGBP
ISIN:

EUR/GBP - 1H - Technical analysis published on 07/02/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Slightly bullish

Technical indicators

11%

61%

28%

My opinion

Bearish under 0.8499 GBP

My targets

0.8466 GBP (-0.0013)

0.8453 GBP (-0.0026)

My analysis

The current short-term bearish trend is expected to quickly reset the neutral or bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for EUR/GBP as long as the price remains well below 0.8499 GBP. The next bearish objective for sellers is set at 0.8466 GBP. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 0.8453 GBP. In case of crossing, the next objective would be the support located at 0.8434 GBP. As the basic trend is not clearly displayed, attention should be paid to the price response to the support located at 0.8466 GBP. With this support, against the trend traders who want to buy EUR/GBP on a buy signal from their trading strategy should not hesitate to act.

Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.

Force

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by stefanstan. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The EUR/GBP price is 0.8479 GBP. The price registered a decrease of -0.13% on the session with the lowest point at 0.8478 GBP and the highest point at 0.8496 GBP. The deviation from the price is +0.01% for the low point and -0.20% for the high point.

0.8478

0.8496

0.8479

A study of price movements over other periods shows the following variations:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new LOW record (5 years)

Type : Bearish

Timeframe : Weekly

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in 1H of this EUR/GBP chart shows a slightly bullish trend. 57.14% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently given by short-term moving averages indicate that a trend reversal may be taking place. An assessment of moving averages reveals several bearish signals that could impact this trend:

Bearish trend reversal : Moving Average 20

Type : Bearish

Timeframe : 1 hour

Bearish trend reversal : adaptative moving average 50

Type : Bearish

Timeframe : 1 hour

Technical indicators are bearish. There is still some doubt about the decline in the price.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is oversold : under -100

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

RSI indicator is back under 50

Type : Bearish

Timeframe : 1 hour

Parabolic SAR indicator bearish reversal

Type : Bearish

Timeframe : 1 hour

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:

Near support of channel

Type : Bullish

Timeframe : 1 hour

There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:

Doji

Type : Neutral

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	0.8453	0.8466	0.8478	0.8479	0.8499	0.8511	0.8563
Change (%)	-0.31%	-0.15%	-0.01%	-	+0.24%	+0.38%	+0.99%
Change	-0.0026	-0.0013	-0.0001	-	+0.0020	+0.0032	+0.0084
Level	Minor	Intermediate	Minor	-	Intermediate	Major	Intermediate

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.8448	0.8460	0.8475	0.8487	0.8502	0.8514	0.8529
Camarilla	0.8483	0.8485	0.8488	0.8490	0.8493	0.8495	0.8497
Woodie	0.8450	0.8461	0.8477	0.8488	0.8504	0.8515	0.8531
Fibonacci	0.8460	0.8470	0.8477	0.8487	0.8497	0.8504	0.8514

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.8391	0.8410	0.8443	0.8462	0.8495	0.8514	0.8547
Camarilla	0.8461	0.8466	0.8470	0.8475	0.8480	0.8485	0.8489
Woodie	0.8397	0.8414	0.8449	0.8466	0.8501	0.8518	0.8553
Fibonacci	0.8410	0.8430	0.8443	0.8462	0.8482	0.8495	0.8514

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	0.8264	0.8330	0.8403	0.8469	0.8542	0.8608	0.8681
Camarilla	0.8437	0.8450	0.8462	0.8475	0.8488	0.8501	0.8513
Woodie	0.8267	0.8332	0.8406	0.8471	0.8545	0.8610	0.8684
Fibonacci	0.8330	0.8383	0.8416	0.8469	0.8522	0.8555	0.8608

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	37.54
MACD (12,26,9):	0.0000
Directional Movement:	-9.5066
AROON (14):	-42.8571
DEMA (21):	0.8489
Parabolic SAR (0,02-0,02-0,2):	0.8496
Elder Ray (13):	-0.0009
Super Trend (3,10):	0.8496
Zig ZAG (10):	0.8479
VORTEX (21):	1.0000
Stochastique (14,3,5):	13.97
TEMA (21):	0.8486
Williams %R (14):	-94.44
Chande Momentum Oscillator (20):	-0.0012
Repulse (5,40,3):	-0.1210
ROCnROLL:	2
TRIX (15,9):	0.0026
Courbe Coppock:	0.03

MA7:	0.8469
MA20:	0.8462
MA50:	0.8516
MA100:	0.8537
MAexp7:	0.8485
MAexp20:	0.8488
MAexp50:	0.8484
MAexp100:	0.8476
Price / MA7:	+0.12%
Price / MA20:	+0.20%
Price / MA50:	-0.43%
Price / MA100:	-0.68%
Price / MAexp7:	-0.07%
Price / MAexp20:	-0.11%
Price / MAexp50:	-0.06%
Price / MAexp100:	+0.04%

Quotes : - Real time data - Forex

News

The latest news and videos published on EUR/GBP at the time of the analysis were as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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